Manhattan's commercial landlords offer concessions to battle stagnant rents

  • Class A landlords in Downtown granted concessions at values of $102 per square foot in 2015.
  • Midtown concessions grew by 0.4 percent and reached record values of $138.50 per square foot.
  • According to the SERI report, these compromises are a response to the growing supply of space and lack of upward price movement.
  • Leasing activity Downtown dropped from 4.5 million square feet in 2014 to 2.4 million square feet in 2015.

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Inman Connect New York | January 29 - February 1, 2019